Is Major Move Coming For Briggs & Stratton Corporation (BGG) After This Double Bottom Pattern?

July 14, 2018 - By Duane Lopez

Investors sentiment increased to 1.6 in 2018 Q1. Its up 0.31, from 1.29 in 2017Q4. It is positive, as 21 investors sold Briggs & Stratton Corporation shares while 39 reduced holdings. 28 funds opened positions while 68 raised stakes. 33.98 million shares or 2.13% less from 34.72 million shares in 2017Q4 were reported.
Barclays Public Ltd Com invested in 17,524 shares or 0% of the stock. Parametric Port Assoc Ltd Liability Corporation accumulated 196,415 shares or 0% of the stock. Hbk Lp accumulated 20,800 shares. The New York-based Goldman Sachs has invested 0% in Briggs & Stratton Corporation (NYSE:BGG). Principal Finance Group accumulated 328,914 shares or 0.01% of the stock. Rhumbline Advisers holds 104,180 shares or 0% of its portfolio. Alliancebernstein Ltd Partnership stated it has 150,715 shares. Riverhead Management Lc has 4,019 shares for 0% of their portfolio. Art Advsr Lc holds 0.01% or 11,790 shares in its portfolio. Sandy Spring Savings Bank reported 0% in Briggs & Stratton Corporation (NYSE:BGG). State Street accumulated 0% or 1.31M shares. Citigroup reported 0% of its portfolio in Briggs & Stratton Corporation (NYSE:BGG). Hillcrest Asset Mngmt Lc invested in 2.08% or 482,397 shares. Glenmede Trust Comm Na accumulated 143 shares or 0% of the stock. Eaton Vance Mgmt holds 0% or 15,228 shares.

Since February 16, 2018, it had 1 insider buy, and 2 sales for $825,490 activity. Shares for $87,500 were bought by JAEHNERT FRANK M.

The chart of Briggs & Stratton Corporation (BGG) shows a double bottom with $16.79 target or 9.00 % below today’s $18.45 share price. The 7 months chart pattern indicates high risk for the $787.18 million company. It was reported on Jul, 14 by Finviz.com. If the $16.79 price target is reached, the company will be worth $70.85M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.26% or $0.23 during the last trading session, reaching $18.45. About 163,463 shares traded. Briggs & Stratton Corporation (NYSE:BGG) has declined 20.57% since July 14, 2017 and is downtrending. It has underperformed by 33.14% the S&P500.

Analysts await Briggs & Stratton Corporation (NYSE:BGG) to report earnings on August, 15. They expect $0.48 EPS, up 4.35 % or $0.02 from last year’s $0.46 per share. BGG’s profit will be $20.48M for 9.61 P/E if the $0.48 EPS becomes a reality. After $0.84 actual EPS reported by Briggs & Stratton Corporation for the previous quarter, Wall Street now forecasts -42.86 % negative EPS growth.

Briggs & Stratton Corporation (NYSE:BGG) Ratings Coverage

Among 2 analysts covering Briggs \u0026 Stratton (NYSE:BGG), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Briggs \u0026 Stratton had 2 analyst reports since January 16, 2018 according to SRatingsIntel. The firm has “Market Perform” rating by Raymond James given on Tuesday, January 16. The company was maintained on Friday, January 26 by Northcoast.

More recent Briggs & Stratton Corporation (NYSE:BGG) news were published by: Prnewswire.com which released: “Vanguard® Increases Engine Options Available On Scag® Turf Tiger II Commercial Mower” on July 11, 2018. Also Globenewswire.com published the news titled: “Analysis: Positioning to Benefit within The Stars Group, AMAG Pharmaceuticals, ResMed, WestRock, Briggs & Stratton …” on June 18, 2018. Prnewswire.com‘s news article titled: “Ferris Announces Partnership with the National Hispanic Landscape Alliance (NHLA)” with publication date: July 10, 2018 was also an interesting one.

Briggs & Stratton Corporation designs, makes, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. The company has market cap of $787.18 million. It operates in two divisions, Engines and Products. It has a 40.64 P/E ratio. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

Briggs & Stratton Corporation (NYSE:BGG) Institutional Positions Chart

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